THE "DAUGHTER" OF THE SAVINGS BANK IS PREPARING FOR THE BANKRUPTCY OF THE METALLURGICAL PLANT

The company "SB Raw Trading" announced plans to take the initiative to recognize the insolvency of the Kamensk-Ural Metallurgical Plant. Information about this was posted on Fedresource on August 25, 2023. However, representatives of the Kamensk-Ural Metallurgical Plant consider the trader's behavior to be unfair, explaining this step as an attempt to obtain excess profits through litigation.

Kamensk-Ural Metallurgical Plant (JSC) produces aluminum products used in the automotive, oil and gas, aerospace and construction sectors. Last year, the firm ended with a profit of 339 million with revenue of 34.16 billion. According to Interfax, the press service of the company announced the growth of revenue in the organization in 2023 and the systematic repayment of credit obligations.

A possible initiator of bankruptcy is a subsidiary of Sberbank. It was formed in the spring of 2017 as a trader working in the raw materials sector of the Russian economy. Obtaining information about the owners of "SB Raw Trading" in the Unified State Register of Legal Entities currently has restrictions.

Recently, both organizations have been conducting mutual litigation in arbitration courts. The commodity trader filed a lawsuit demanding to recover almost 66 million rubles from the plant at the end of last year.

The company in response asked the court to apply to the relationship of the parties the consequences of the recognition of the civil transaction invalid. The mutual supply of aluminum, according to KUMZ, should be considered as a loan agreement and a pledge agreement. This would allow the trader to refuse his claim, also collecting from him the amount for unjustified enrichment.

The first instance met the arguments of the plant, but the appeal in July 2023 overturned the verdict of the court. A penalty (33.4 million) and compensation (32.3 million) were collected from the plant.

Another lawsuit in 2023 was an attempt by a trader to recover 1.8 billion from the plant. The organization filed a lawsuit against the plant to invalidate a number of contracts concluded in mid-2022. They were talking about the sale of the company "Drill Pipes" (all shares in the amount of 100%).

Representatives of the plant say that litigation between the companies is still ongoing, and the final chord in the relationship has not yet been set. According to the press service of the Kamensk-Ural Metallurgical Plant, the enterprise is not in danger of bankruptcy, since there are no financial grounds for it.